Despite what the term implies, a Short Sale is not a sale that is quick or short. A Short Sale is when the bank agrees to accept less than the amount you owe on your mortgage when you sell your house. Typically, a short sale has much less of a negative impact on your credit than a foreclosure. Tax consequences, if any, vary and you should consult a CPA or tax attorney about your specific situation.

If you owe more than your home is worth and can no longer afford the payments, please contact me to learn more about your options including loan modification, short sale, and deed in lieu. Under the new HAFA program (Home Affordable Foreclosure Alternative) you may qualify to receive $3,000 to help with the cost of relocation. I am a "Certified HAFA Specialist" so please contact me for more information.